Stock Traders Buy High Volume of Rover Group Call Options (NASDAQ:ROVR)

Posted by Defense World Staff on Apr 6th, 2023

Rover Group, Inc. (NASDAQ:ROVR – Get Rating) was the recipient of some unusual options trading on Wednesday. Stock investors acquired 17,748 call options on the stock. This represents an increase of 6,623% compared to the average daily volume of 264 call options.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Foundry Group Next LLC purchased a new position in Rover Group in the fourth quarter worth about $74,386,000. BlackRock Inc. boosted its position in Rover Group by 6.5% in the third quarter. BlackRock Inc. now owns 6,084,231 shares of the company’s stock worth $20,321,000 after purchasing an additional 371,250 shares during the last quarter. Vanguard Group Inc. boosted its position in Rover Group by 7.3% in the third quarter. Vanguard Group Inc. now owns 5,681,478 shares of the company’s stock worth $18,976,000 after purchasing an additional 388,655 shares during the last quarter. FMR LLC boosted its position in Rover Group by 135.3% in the second quarter. FMR LLC now owns 3,002,090 shares of the company’s stock worth $11,288,000 after purchasing an additional 1,725,978 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Rover Group by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 1,886,198 shares of the company’s stock worth $6,922,000 after purchasing an additional 76,515 shares during the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.

Rover Group Price Performance

Rover Group stock opened at $4.28 on Thursday. Rover Group has a one year low of $3.14 and a one year high of $6.52. The stock has a market capitalization of $791.97 million, a PE ratio of -35.67 and a beta of 1.55. The business’s fifty day moving average is $4.12 and its 200 day moving average is $4.10.

Rover Group (NASDAQ:ROVR – Get Rating) last released its quarterly earnings data on Monday, February 27th. The company reported $0.03 EPS for the quarter. The company had revenue of $52.00 million for the quarter, compared to analysts’ expectations of $50.15 million. Rover Group had a negative return on equity of 3.97% and a negative net margin of 12.63%. Rover Group’s revenue was up 36.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) earnings per share.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Canaccord Genuity Group reduced their price target on Rover Group from $8.00 to $7.00 and set a “buy” rating for the company in a report on Tuesday, February 28th. JMP Securities reduced their price target on Rover Group from $8.00 to $6.00 and set a “market outperform” rating for the company in a report on Wednesday, January 11th. Finally, Morgan Stanley dropped their price objective on Rover Group from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 18th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $5.25.

Rover Group Company Profile

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Rover Group, Inc operates an online marketplace for pet care worldwide. It connects pet parents with pet providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, such as doggy daycare, dog walking, drop-in visits, grooming, and training. The company is headquartered in Seattle, Washington.